Longevity makes it imperative we make a conscious effort to save more money while we are still working. Life expectancy has continued to increase with females now aged 65 expected to live to 87.1 and a 65-year-old male can expect to live to 84.2 according to the Australian Institute of Health and Welfare. I became a widow at 55, my girlfriend became a widow at 59 and my Mum became a widow at 83. The chances of women ending up on their own are greater than men and that is why women need to avoid running out of money.
An alternative to a pension for retirement income is to invest in property. The main reason many are investing in the real estate market is to provide financial independence for retirement. Some are hoping their investments in rental properties will enable them to quit their day job and live off their rental income. Is this achievable well it is certainly possible with a strategy and a plan for investing.